3 Key Ethereum (ETH) Price Levels to Watch Amid Binance’s Selling Spree

Akash Girimath
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
3 Key Ethereum (ETH) Price Levels to Watch Amid Binance's Selling Spree

Highlights

  • Ethereum price has been rangebound between $2.5K and $2.8K with a potential breakout or breakdown depending on market catalysts.
  • Binance's Selling Spree: Binance sold 12,350 ETH (worth $35 million), adding uncertainty to Ethereum's short-term price direction.
  • $3.1K and $3.3K are major resistance levels that, if broken, could pave the way for ETH to revisit its all-time highs near $4,093.

Binance, a prominent cryptocurrency exchange, has sold significant Ethereum (ETH) volumes in the past few hours. This development came after ByBit’s CEO announced their exchange reserves had skyrocketed to pre-hack levels. With this ongoing drama, let’s explore Ethereum price analysis and key ETH price levels to watch.

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Important ETH Price Levels To Watch

As of Monday, February 24, 2025, ETH price hovers around $2,700 and shows signs of breaking out of its 20-day consolidation. If Bitcoin clears the pre-ByBit hack levels of $98K, it could trigger a bull run for the crypto market. This development could see the Ethereum price end its rangebound movement between $2.5K and $2.8K.

A decisive breakout above the aforementioned range could push ETH price to revisit these key levels: $3,006, $3,134, and $3,257, coinciding with the 2025 VWAP, Q4 2024 rolling VWAP, and Q4 Nov 2024 rolling VWAP, respectively.

3 Key Ethereum (ETH) Price Levels to Watch Amid Binance's Selling Spree
ETH/USDT 4-hour chart
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Ethereum Directional Remains Uncertain in Long-term

From a long-term perspective, the 1-week chart shows $3.1K and $3.3K are the most critical resistance levels preventing ETH price from moving higher. Overcoming these barriers and flipping them into support level will increase the odds of revisiting the equal highs at $4,093.

However, at the moment, there aren’t any catalysts strong enough to push the ETH price to $3K, let alone $4K. Due to Bitcoin’s sideways movement, investors need to exercise patience until the market kickstarts a trend.

On the other hand, a breakdown of $2.7K to $2.6K support zone could trigger a 22% correction to $2,000. As noted above, the Ethereum price prediciton outlook remains uncertain as long as ETH price is stuck in its 20-day consolidation phase.

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Binance’s Ethereum (ETH) Selling Spree

On-chain data shows that Binance, one of the top crypto exchanges in the world, was selling massive amounts of Ethereum (ETH) tokens. A closer look at the on-chain data shows that the crypto exchange sold 12,350 ETH worth roughly $35 million at the current price of $2,700.

Jacob King, who spotted this selling spree, added,

“Binance is mass dumping #Ethereum. Never seen anything like this before”

This move from Binance isn’t unnatural. MaxPain, a crypto analyst noted a similar trade happening a few days ago. However, the image below could just be traders on Binance selling as ByBit was buying.

“Absolute drama. #Bybit bids #Binance knocks it down. Overall spot CVD is also tanking.”

Conclusion

The Ethereum (ETH) price remains in a critical phase, with key levels to watch amid Binance’s significant selling activity. In contrast, a breakout above $2.8K could propel ETH toward $3,006, $3,134, and $3,134. However, a breakdown below $2.7K may trigger a 22% crash. The market’s direction hinges on Bitcoin’s performance and broader crypto market trends. Investors should remain cautious and monitor these levels closely as the situation unfolds.

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Frequently Asked Questions (FAQs)

1. Why is Binance selling large amounts of Ethereum (ETH)?

Binance's selling spree appears to be a reaction to market dynamics, including ByBit's increased reserves and potential profit-taking strategies. However, the exact reasons remain speculative.

2. What are the key Ethereum (ETH) price levels to watch?

The critical levels to monitor are $3,006, $3,134, and $3,134 for upward movement and a breakdown below $2.6K could trigger a 22% crash to $2K.

3. What factors could influence Ethereum's price in the near term?

Bitcoin's price movement, market sentiment, and exchange activities (like Binance's selling and ByBit's buying) are key factors influencing Ethereum's price trajectory.
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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Senior Cryptocurrency Analyst & Market Strategist Engineer-turned-analyst Akash Girimath delivers data-driven insights on cryptocurrency markets, DeFi, and blockchain technology for platforms like AMBCrypto and FXStreet. Specializing in technical analysis, on-chain analytics, and risk management, he empowers institutional investors and retail traders to navigate market volatility and regulatory shifts. A hands-on strategist, Akash merges active crypto portfolio management with research on Web3, NFTs, and tokenomics. At AMBCrypto, he led cross-functional teams to redesign content frameworks, achieving record-breaking traffic growth through scalable editorial strategies. His analyses dissect market sentiment, investment strategies, and price predictions, blending macroeconomic trends with real-world trading expertise. Known for mentoring analysts and optimizing workflows for high-impact reporting, Akash’s work is cited across global crypto publications, reaching 500k+ monthly readers. Follow his insights on YouTube, X, and LinkedIn for cutting-edge perspectives on decentralized ecosystems and crypto innovation.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.